Business
NGX: Aradel, Stanbic, UPL lead market rally as investors gain N394bn
The Nigerian equities market recovered from previous day’s loss as investors gained N394 billion at the close of trading on Wednesday.
This followed a surge in the share prices of stocks like ARADEL, STANBIC, and UPL amongst others on the trading floor.
After five hours of trading at the capital market, the equity capitalization rose to ₦64.5 trillion from ₦64.1 trillion posted by the bourse on Tuesday.
The benchmark All-Share Index (ASI) increased to 104,597.64 points from 103,958.75 points recorded the previous day.
The market breadth was negative as 25 stocks advanced and 36 stocks declined, while 59 stocks remained unchanged at 16,007 deals.
ARADEL, STANBIC, and UPL led other gainers with 10%, 9.92% and 9.64% growth each in prices to close at N594.00, N71.45 and N5.12 from the previous N540.00, N65.00 and N4.67 per share.
UNIVERSAL INSURANCE, FIDELITY BANK and VERITASKAP led other price decliners with 10%, 9.80%, and 9.79% dip in share prices to close at N2.07, N1.84 and N1.29 from the previous N2.30, N2.04 and N1.43 per share.
On the volume index, UNIVERSAL INSURANCE led trading with 33 million shares in 189 deals followed by FIDELITY BANK which traded 31 million shares in 401 deals.
FCMB traded 23 million shares in 440 deals.
On the value index, ARADEL traded stocks worth N6.2 billion in 1,166 deals followed by OANDO which traded equities worth N660 million in 771 deals.
GTCO traded shares valued at N643 million in 1,001 deals.
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